Defense Technology Systems (CE) (USOTC:DFTS)
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Current Quarter to Include Revenue from Newly Acquired Subsidiary;
Defense Technology Acquired a Majority Interest in DCI on April 6th
Defense Technology Systems Inc. (OTCBB:DFTS) announced today that
the Company anticipates substantial revenue growth from the quarter
ending March 31st, 2005, to the ending of the current quarter on June
30th.
"Last week Defense Technology released the last quarterly report
reflecting financial performance prior to the implementation of our
recently announced revitalization and redirection plan," said Philip
Verges, a board member speaking on behalf of the entire Board of
Directors. "The Company has spent a very difficult year preparing for
a major shift in direction. On April 6th, Defense Technology completed
the majority acquisition of DCI, a defense industry systems
engineering firm. This acquisition marks a continuation of our plan to
build Defense Technology into a leading provider of Homeland Security
solutions to major metropolitan municipalities. The Company's next
financial report will reflect the current benefit and future promise
of our revitalization and redirection plan with a substantial increase
in revenue for the current quarter over the last quarter ended on
March 31st."
Defense Technology Systems recently implemented a revitalization
and redirection plan to leverage its experience in providing digital
communication infrastructure solutions to Fortune 1000 companies and
expand into providing overall Homeland Security solutions to major
metropolitan municipalities. To accelerate the plan, Defense
Technology recently acquired a majority interest in an established
defense engineering firm with 15 years of experience and a portfolio
of proprietary technologies. Through acquisition, Defense Technology
has trailing twelve month revenue of $5 million and plans to
significantly build on this revenue through organic growth, new
initiatives and potential acquisitions currently under negotiation.
About Defense Technology Systems, Inc.
Defense Technology Systems, Inc. is an international provider of
data and security solutions focused on the Homeland Security and
Defense industries. The Company offers a broad portfolio of
security-related products, including ballistic glass, video
surveillance, infrastructure security and associated security systems.
The Defense Systems team, working in collaboration with its partners,
will design, develop, manufacture, install and market specialty
products, equipment, and systems for the safety and security needs of
all sectors of the domestic and international marketplace. In
addition, DFTS recently acquired a majority interest in DCI
Corporation (www.dci-corp.com) , a leading edge technology company
with over 15 years of experience in engineering specialized hardware
and software solutions when commercial-off-the-shelf (COTS) products
do not fulfill the critical requirements of enterprise, military or
government organizations. DCI's experience has earned them the
reputation as a respected Homeland Security solution provider with a
broad portfolio of innovative proprietary technologies.
This press release contains statements (such as projections
regarding future performance) that are forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those projected as a result
of certain risks and uncertainties, including but not limited to those
detailed from time to time in the Company's filings with the
Securities and Exchange Commission.
For more information on Defense Technology Systems, Inc. visit:
www.DefenseTechnologySystems.com